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00:00: This demonstration guides you through the process of how Bay Street evaluates Hospitality
00:04: Investments through a quantamental lens, using the Bay Street Hospitality Terminal.
00:08: Throughout the diligence process, you will see how Bay Street factors investment
00:12: data, builds financial models, utilizes AI for deal comparisons, and
00:16: manages investment committee documentation effectively.
00:20: Let's login.
00:21: The VCC Dataroom provides access to specific investment due diligence.
00:27: Here we will review the Como - Singapore, a $500M Asset Acquisition investment.
00:32: Within the terminal, Bay Street reviews all diligence provided by the target investment and
00:36: evaluates each investment.
00:38: Financial Models are built by Bay Street to review comprehensive financial projections
00:42: and analyses.
00:44: Here, we will review the model that Bay Street built for Ennismore.
00:48: The total investment is 13.6% stake.
00:52: All of the investment parameters can be edited directly in the terminal.
00:55: And any fixed financials can be immediately compared to the financials
00:59: provided by the Target Investments data room.
01:01: In this particular opportunity Bay streets.
01:04: Team has negotiated a 53% discount from the IPO evaluation with
01:08: 92% of EBA dial locked in place through existing hotel management agreements.
01:14: Before we review the rest of the terminal, let's take a look at the quantum white papers and
01:18: review Bay streets investment approach over 60, white papers have been
01:22: written, copyrighted, and published by Bay Street over the last several years.
01:25: These papers are the foundation of bay streets investment thesis, and provide,
01:30: a comprehensive overview of the investment process strategy and terminology.
01:35: A great starting place is the Quantamental Investment Process.
01:39: Here we can review Bay Street's methodology.
01:42: Next, let's click Investment Evaluation to analyze each investment.
01:46: From here, we will take a look at the macro country.
01:48: Level metrics to view economic indicators.
01:52: Here, each country is ranked using over 40 Macro Metrics.
01:56: Bay Street uses Z-scores across macro country comparisons because z-scores
02:00: normalize diverse economic and tourism indicators
02:02: onto a common scale, allowing countries to be ranked objectively against each other
02:06: regardless of the raw unit of measurement.
02:09: Next, we will review the investment. The platform will review all of
02:13: the white Papers written by Bay Street review.
02:16: Each file provided by the Target investment and then use composite scores to
02:20: evaluate investment opportunities, IFC eligibility, and other relevant
02:24: metrics, on a deal-by-deal basis.
02:27: Now let's say a new opportunity is presented to Bay Street.
02:31: Instead of committing resources for the initial diligence, the terminal completes
02:35: the initial stages of investment due diligence based on
02:37: all of the previous deals that Bay Street and its partners have diligenced in the past.
02:43: The deal evaluation tab allows for up to 50 documents to be uploaded at
02:47: a time and converted to a vector database Bay Street uses a
02:51: vector database, instead of a relational database because it enables semantic search
02:55: across, unstructured, deal macro and Text data, capturing similarity and meaning
02:59: rather than relying, only on exact matches.
03:02: Vector databases are broken into chunks, so that large documents can be embedded in
03:06: searched at a granular level, and Bay Street uses these chunks to retrieve,
03:10: only the most relevant parts of term sheets, white papers, or Market data, when
03:14: scoring deals or drafting IC memos.
03:18: The terminal's due diligence suite tracks all verbal and nonverbal interactions
03:22: between the investment team and the platform.
03:25: The investment team can initiate questions to ask the platform and it will retrieve
03:29: the appropriate response and frame it in the context of Bay Street's investment
03:33: mandate.
03:35: Next we'll review Structuring & Governance.
03:38: The platform takes the white papers reviews, all of the term, sheets that Bay Street has
03:42: written in the past and then suggests a general structure that takes into account, the
03:46: full VCC data room and investment mandate,
03:50: If a team member has a specific question, they can use the terminal to ask about investment
03:54: opportunities, deal analysis, or market trends...
03:57: In this instance, a team member is looking for red flags across the Como investment.
04:02: The platform retains all verbal and nonverbal user interactions for the team
04:06: to review ahead of IC meetings.
04:09: Red flags are also proactively tracked by the terminal and brought to the team's attention
04:13: so that additional documentation can be requested
04:17: A straightforward scorecard is used to track completeness throughout the investment process.
04:22: And a final brief that includes the vote and the composite Bay Score is recorded by
04:26: each investment manager.
04:28: Click Log Out to securely exit the platform.
04:32: Thank you for watching the Bay Street Hospitality platform demonstration.
Bay Street Hospitality is a diversified hotel fund series for allocators seeking quant-driven exposure across top countries, operators, and hotel tiers. The fund targets a diversified portfolio in both high-growth emerging markets and stable developed markets, optimizing risk-adjusted returns. The leadership provides structured equity and pivotal strategic guidance to hotel-related investments. The fund establishes joint ventures with best-in-class partners, focusing on deal flexibility, currency considerations, tax efficiency, and clear exit strategies.
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